tv Street Signs CNBC September 8, 2014 2:00pm-3:01pm EDT
the triple tax free. >> i'm surprised the number was that high on that. that would be the smart thing to do. >> these are responsible viewers. >> energy sector weighing on the market. dow jones industry average off about 53 points and the dollar is soaring against the yen and the euro. >> thanks for joining us for "power lunch." "street signs" begins now. would you buy a self-driving car? detroit is making a big bet that you will. we will take you to the motor city for the latest on this big push. plus your market play book. you have apple tomorrow and the president's big speech wednesday. a surprising stat about how millennials are spending or not spending money. what restaurant chain made you say genius or worst thing you have heard? >> you have been trudging uphill
for five straight weeks would you like a rest? you probably would. the dow and s&p are doing that today. they are having a bit of a rest. the nasdaq 100 hit a 14-year high today with the biggest positive impact from softy. microsoft trading at the highest up over 24% this year so far. >> not that soft, is it? >> no. mr. hardy. a big speech on wednesday one day before the 13th anniversary of the september 11 attacks the president expected to outline his plan to combat the threat, a plan likely to expend past the president's time in office. joining us from washington, d.c. retired four star general. welcome to the program. what can we expect from the president on wednesday? >> you know, i am very sympathetic to what he is trying to achieve here is a dilemma.
almost nothing he proposes doesn't run counter to other administration objectives. if you attack isis and defeat them you aid assad and the regime he has. you help the iranians. if you stick with the iraq you alien ate sunni. >> why is it our dilemma? where is nato in all of this? where is germany? where is france? where are the allies that also, by the way, have an extremely vested interest in the outcome? >> that is the question. for gosh sakes, to what extent are we vulnerable compared to places like france with giant unassimilated angry muslim populations or the brits? i think they are basically disarming themselves. they are terrified of putin and the ukraine action. they are not capable of taking decisive action.
never mind sunni muslim countries like the saudis, the turks, jordan all sitting directly confronted by isis. we have a very weak hand to play. in the background sequestration, congress is dismantling the u.s. armed forces. our training budgets and equipment acquisition. the army is moving to the smallest force since before world war ii. so the political will isn't there and the tools of military power and diplomacy are weak. >> that makes me very concerned about our potential vulnerability. if we go after isis in a really tough way to what degree does it make us less safe? to what degree will we become even more of a terror target? and in light of the fact you say we are dismantling military capabilities are we equipped to handle that? >> i think the primary agents will be cia who are extremely
sophisticated and courageous. jordan will stand with us covertly. at the end of the day we need to remind ourselves that domestic security is primarily federal law enforcement. so we need resources for customs and border protection. we need to make sure the national security agency has the tools and the political approval to do surveillance of these terrorist organizations and the fbi. so this is primarily a defensive operation in my view. we will be attacked by isis elements in the coming 24 months. you don't solve that problem with f 16s. you solve it with good intelligence and good law enforcement. >> let's hope it is ready for the potential. thank you very much for joining us. let's talk about what the markets are saying about the
latest wave of political news. joining us is -- what do you think about this from an investment point of view? >> we have had a very counter intuitive reaction to what has been going on in iraq and numerous political hot spots. if you isolated iraq from the white house you would have expected to have seen something like a spike in the price for oil. there has been no disruption of supply. one of the things the market hasn't been able to react to is what we would expect. what we haven't seen is a rush to gold. that has been replaced with the safety trade certainly the u.s. ten year or the dollar. i think that will continue. i think the other piece of the puzzle is as we look at the situation and with the hope towards it getting better we will probably shift focus quickly to other geo political hot spots the other one right now that has had a direct
economic impact has been tensions with russia and ukraine. >> how much discussion does that get on your trading desk? >> it is constant. it is always in the background because whatever happens that is good, let's say apple hits the ball out of the park tomorrow but there is some increase in tension whether with isis in iraq or russia/ukraine, it gets asurp. we get great economic data and don't focus on it. earnings are better. we have to focus on things outside of our control and we don't know how big they can get. it gets plenty of attention on the trading desk and whether we like it or not we are living in a dangerous world. there is always geo political hot spots. we hope some can be contained. >> do you think it is more likely than not that the market can rally through all of this? what would have to happen for
this rally to come to an end? >> a couple of things. obviously the first and the worst case scenario would be an attack on our shores. if isis were able to do something and deliver a terrorist blow that would probably be the first and foremost thing away from that something that disrupted the supply of energy such that we have oil prices go from $100 to $140 in a two week period. the other thing would be increased sanctions such that the economies continue to stagnate and go into a recession. in that order something along those lines would slow this market down. it has been extremely resilient and a lot from the fact that the geo political situations although they are global and on an economic basis they are local and remain localized. >> real pleasure. thank you very much. coming up we are going to be switching gears and will break
is that one. that is yahoo. it is up more than 4%. the owner of about 12% of alibaba after the ipo. 23% right now? >> 22.5%. the cars of the future are on display in detroit. you need the car but the car does not need you. we are already feeling rejected, phil. >> reporter: what is interesting at this its world congress it is clear that the technology for the connected car, the car that will be able to drive you where you want to go with you doing little as the driver behind the wheel that technology is coming faster than people in the automotive industry expected. it was not long ago i was reporting we might see semi
autonomous vehicles by the end of the decade. a lot of research is being done about self-driven trucks, semis. look at this. the last second he will turn away. there is nobody holding the steering wheel in the vehicles. this technology is coming quickly. it will be a difference because people will want this. people saying i want to drive all the time. i think that eventually people will say driving is really a chore. it is a big waste of time for a lot of folks. the idea that the car can do it and can do it safely that will be appealing to a lot of folks. >> it certainly will be. thank you very much. and watch out for that hummer. >> i have faith. he is not going to hit me. >> who is he? there is nobody manning the wheel. that is what i'm nervous about. here they come back again. get out of the way. many questions still to be answered about self-driving
cars. let's get to a man with the answers. former vice chair of gm. there is no doubt that technology is existing probably years ago. do you think that state lawmakers and the insurance industry are going to keep pace and allow these cars to actually get on the road anytime soon? >> if they are smart and look at the statistics they are going to come to the conclusion as the rest of us have that these vehicles that are guided with a lot of safe guards and redundancy are safer than vehicles that are guided by humans because the autonymous car doesn't get drunk and get road rage and don't go to sleep. will there be the occasional accident? probably. but it will be like 10% of human
caused errors. >> would you drive -- i guess that is the wrong term. would you be in the back of a driverless car? would you feel okay personally? >> it will take some getting used to but why not? general motors has been working with research product agency and entered the annual competition on unmanned vehicles for at least the past 15 years. there is a lot of experience. i have seen a lot of them that work. people who participated and had the rides in the google car say the number one word that they found was boring because the car obeys the speed limit at all times, never drifts out of the lane, never tries to pass another car. that would bother me. that would bother me. >> a lot of people do forget and i get it -- there are some people that do enjoy physically
driving a car. that aside, answer this. you are in a driverless car and on your phone and napping. the car gets into a wreck, something goes wrong. who is liable? that is my issue. is the world that we live in today somebody has to be legally liable? do you sue google? i'm sure insurance companies are trying to figure this out. >> unfortunately, in the united states with the contingent fee system that we have no matter what is new you will have the american trial lawyers association swarm all over it and sense another big source of money. but that's just something that will have to be dealt with. i don't know. i guess they would have to do an analysis and see where the fault lies. did the radar system fail? did one of the satellites fail? did the garmen gps fail? i suppose they would have to
find the failure cause and then go sue whatever company made that component. >> whenever you want something to go from niche to mass you have to make a price point that the mass can afford. what kind of price point do you think it will be at the beginning? >> it was announced the large cadillac coming out, the 2017 model, will be largely autonomous up to certain speeds. i have a cadillac cts fully autonomous today except for one thing, i get inputs in the sides of my buttocks if i wander out of the lane. then i have to make the correction myself. the last step is using the signal from the lane departure system and inputting it back into the electric power steering which frankly is not very
expensive. so in cadillacs and a lot of other high end cars we have three quarters of the system operating today. the last thing we need are the automatic steering inputs. that's just an electronic connection and an additional motor. i think it is fairly trivial. it will start on high end cars but quickly migrate down. >> here is a question you will hate. is it time for gm to pull the plug on the volt? >> no. it's doing fine. it is great technology. right now electric cars are somewhat static because fuel prices are down and batteries have limited range. long term i have a lot of faith in electric cars. i wouldn't pull the plug on the volt, but that is gm's decision. >> i think the volt logged sales of 2,511, best performance.
southwest airlines giving its fleet of planes a makeover. here is what the new planes look like. if you are on the radio the plane is now blue as opposed to the old purple. look closely at the southwest, white on blue. does that remind you of anything? >> facebook perhaps? >> looks a lot like -- maybe it is by design or accident. looks a little like facebook. take a look at this chart. many of the for profit education names have been soaring and topping the s&p 500 over the past year. the question everybody wants to know that was the past. what about the future? managing director at bmo capital
markets. for our viewers who have not owned them any worth their money? >> i think they are. we are recommending a handful of names and looking at companies providing a high quality education. you are starting to potential students looking at the value proposition of higher education. is it worth going to school? the ones that can prove they have a good value proposition are doing well. a few that we are recommending even though they are done well but we think can continue to do well would be strayer education, another is copela education. they are recognized by the federal government and public and think they can continue to grow. we have breaking news for the world of sports. baltimore ravens have cut ray rice. ray rice was suspended two games
by the nfl for domestic violence. a charge showing the elevator video, i think shocking. you and i were talking about this this morning. >> it was shocking. >> i said i thought it was disgusting that a ceo would lose a job for kicking a dog which is disgusting, as well, but a suspension for knocking his wife unconscious. baltimore ravens terminated ray rice's contract this afternoon just coming into cnbc here, as well. i apologize to break in like that but obviously this is big news and important news. who is the worst of the bunch? >> there is a few companies running into trouble. one is called corin theen college. even though the stock is publicly traded we would avoid it. >> is there issue with the sector as a whole being under
such government scrutiny or is that something we can put behind us? >> that is always an issue with the sector. if you are investing in education realize they partner with the federal government. the sector is highly regulated so never say it is over. >> not one company in particular in the sector that you think has that as an overhang? >> there are a few with issues. one we don't cover is itt education. this is all widely known. i'm not telling you anything that investors would not know. that is another company under regularatory issues. >> you have overweight ratings on strayer education, copela. harvard receiving the largest donation every. let's bring in robert frank. how much money are we talking here and who is the donor? >> $350 million one of the largest made to any university.
the guy who made it is a harvard-educated investor. where he is giving money to is the harvard school of public health. that is pretty good for harvard but a part of the school that hasn't received so much from the endowment. a lot of their money has come from the government. that has been cut. a lot of people say why does harvard need so much money? harvard produces more billionaires than any university in the planet. they created nearly 2,000 people worth hundreds of millions of dollars. a lot of it is their own success. >> in light of the fact that the donor comes from hong kong, hong kong, china, a part of the world where a lot of donations are coming from. >> and you see the head of soho giving money to schools. the nexus between china and harvard and ivy league you see that as a huge source of
funding. harvard, princeton, yale, all of their endowments are $18 billion. everyone else way below that. there is a have and have not in the public. >> i want to bring up a chart. it's a fun thing. if you took harvard's endowment as a market cap as a company look where it would stand. harvard's endowment is bigger than the market cap of aetna and slightly smaller than cbs. at what point do they say enough is enough. this would pay 600,000 $50,000 a year teaching jobs. >> the school of health has been important. it played a role in fixing polio and smallpox. this money could be well spent. it won't stop until harvard stops producing billionaires. they made 52 already. people love to give back to
institutions that they felt contributed to their success. it is sort of a virtuous circle for harvard. they produced billionaires. billionaires give back. >> thank you very much. we have to go back for more on the breaking news out of the baltimore ravens releasing ray rice. >> absolutely. so again this is coming -- we have it verified from the baltimore ravens twitter feed stating the ravens terminating ray rice's contract. that particular tweet has been re-tweeted 22,000 times with 6.5 thousand comments. the ravens play on a thursday night. a short week for them in terms of practice. head coach john harbaugh is expected to hold a press conference tonight at 8:00 p.m. eastern time to address some of these matters. you have to think that they are going to talk about this ray
rice issue. head coach of the baltimore ravens, john harbaugh, will hold a press conference tonight at 8:00 p.m. eastern time. the baltimore ravens have tweeted out officially. >> what about the nfl here? the nfl when they suspended him they took a lot of heat and changed the domestic abuse policy because of it. they claimed they had seen all relevant evidence including that seen by the police. we don't know if they had seen this same video because what you have seen today and i know you know this is that the nfl after this video had been released is taking a lot of heat. we did the story about a ceo who kicked a dog in an elevator and got fired. this video obviously worse and it was a two-game suspension. what about the nfl? >> the nfl has responded in their kind -- they came out right after the video was released with this particular suspension and put in place a
very brand new set of rules with regards to domestic violence that going into a six-week suspension without pay on the first instance and lifetime banishment on a second offense. what is interesting is the ray rice situation has developed there. tmz had the other part of the video that a lot of people hadn't seen yet. san francisco 49ers defensive lineman ray mcdonald is under suspension of this kind of offense although he did play this past week because there is the presumption of innocence until proven guilty. the nfl with response to the situation you have to wonder whether this is a part for the public to know that they are handling this the best they can. the baltimore ravens have taken the decision out of the nfl's hands. they have done this on their own. you can only imagine what other players and people are thinking given the situation with ray rice. thank you very much. >> we have a pair of rare sell
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welcome to the best monday street talk of the week. analysts recommendations. stock number one is google. the second trading day in a row that we have had an upgrade. >> the google this time is adding to the franchise picks list. they love the youtube part of google's story and think it could be a $17 billion ad driven opportunity. last week's update is based on the plans for the travel business. morgan stanley putting two scientific instrument makers in the financial spot light. >> one is up and one is down. morgan stanley initiating perk and elmer overweight with 15% upside.
thermo fisher overweight 136 target. a little more bullish. thermo fisher has been the better of the two. >> morgan stanley cutting ford's stock. its version of a sell. >> 2% right now. morgan stanley says the u.s. auto cycle is maturing and ford has too much exposure to north america. ford not as global. they cut their target to 16. stock is above 16. we don't see a lot of those. >> from automobiles to buying pharmaceuticals we talk about karyx. >> here is a second one in a row. capital markets cutting kerx the ticker to under perform. target at $14. they are below the stock now. stock has grown 80% over the past year. >> today's under the radar stock is a steel company in the u.s. and south america.
>> and based in luxenburg. jp morgan overweight from neutral. target from 32 from 49. company is called turnium. let's get to talking numbers. let's look at ge. erin gives s&p capital iq on the fundamentals. carter, i begin with you. ge, does it bring good things to light? >> dullard comes to mind. ge, you are good. this is a stock that is obviously badly under performing. it was keeping up with the market. if one looks at a comparative chart orabsolute chart the absolute chart looks like up trend is in tact. the stock versus the market. you are under performing by 1,500 base points on a trailing
basis. it's lost its wag. we characterize this as a pair of twos. >> it has lost its way. you are telling it how you think it is. how about the fundamental side? >> i disagree especially since they just announced that they are selling their appliance business for $3.3 billion to eelectrolux. while this is a big part of ge's public persona but a small percent of revenues, about 8%. this is consistent with ge's overall strategy they have been implementing of moving away from nonindustrial lower margin businesses and focusing on higher growth, higher margin businesses like energy management, power generation and jet engines. so we already expect the sale to add about 5 cents to 7 cents to the quarter on eps as well as the fact that this is a really good value play. right now it is trading at about
13% below the street consensus target price. i think we could see that kind of appreciation particularly when people start to view ge from the new product portfolio at a higher growth and offers a 3% dividend yield. it is a really good defensive play. >> you think it is a value play and a defensive play. thank you very much to both of you for talking about ge from both sides of the coin. be sure to check out the online edition with yahoo finance. is scotland going to leave the uk? it looks like it could be a reality. we do need to start thinking about what it means for the global investor and oil. the breaking news out of baltimore. the baltimore ravens football team have released ray rice, the running back, after a more extensive video surfacing. what is the nfl going to do? we will talk with a top sports columnist in just a couple of
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. could scotland split from the rest of the united kingdom. let's bring in chief international correspondent. kind of just bang overnight when we had one recent poll suggesting tipping 51%. >> this is extraordinary. for months we have been worried about the territorial integrity of iraq and ukraine. now the united kingdom has to worry about the issue. we have known about the referendum for a long time. nobody paid attention until this weekend. the yes vote for independence could win. so now in the united kingdom they are scrambling to do things to bribe the population to vote against it. they are going to try to offer new powers to scotland. this is what people want, more power over the foreign policy of the country, income of the country, taxation, et cetera, et cetera. united kingdom, this is the empire in which the sun never
sets losing another piece of territory. >> scotland is a quarter of the territory. >> what do you do in terms of united kingdom debt? do you get to use the british pound? by the way it is not up to the united kingdom what currency scotland uses. >> british pound has gotten hammered today. there is clearly advice from wall street to short the british pound up into the vote. >> let's bring in john. apparently scotland has about 20 billion barrels of oil. not one of the biggest producers of the world. they are not insignificant. do you see this as impacting at all. if this goes through and scotland becomes its own nation. >> i think what you are seeing in the currency move is huge. another leg to the dollar rally
we have been seeing. that puts downward pressure on prices like oil. the uncertainty around this. you talk about the currency, contracts, how they are seen going forward. how do the oil royalties get split up if at all. there is a great future ahead for the north sea oil out of scotland. if it puts a chill saying bp staying in there it is a negative for future growth. >> it basically goes from scotland's oil, the oil in the north sea supplies about 60% of the uk's oil need and from the uk effectively supplying itself to the uk relying on what could be a separate nation who could choose to then sell the oil anywhere it wants to. this is not a good thing for the uk from an economic perspective. >> it seemed like the vote was assured it wasn't going to
become independent. this poll is supposedly a bit of an outliar. the reaction has been severe. the move in the panel was just incredible for a currency to move a percentage and a half. it is incredible. it's more dollar strength, dollar. this is putting tremendous downward pressure, deflationary pressures. >> we have another poll which will confirm this is an outliar or confirm this could really go against what the united kingdom wants. remember a lot of people are voting by mail. they have already voted. no matter what the uk promises might be too late. >> you can bet your bottom dollar that advocates will be working hard for the next two weeks. thank you, as well. >> get ready to hear the most surprising stat that you may have heard in a while about credit cards and kids these
days. could be bad news for them and the economy. >> how will the nfl react to the breaking news that the ravens have just released ray rice? what will the league's unions do? we are about to ask a columnist. wait, wait, wait, it's wait, wait, wait...whoa, does she have special powers when she has the shroud? no. guys? it's the woven one the woven one. oh, oh that gives her invincibility. guys? no, no, no... the scarlet king is lord victor's son!! no don't. i told you! you guys are gonna be so surprised when you watch the finale!!! you're so lucky your car has wi-fi. yeah...i am. equinox from chevrolet... the first and only car company to bring built-in 4g lte wi-fi to cars, trucks and crossovers.
according to a new study by bankrate.com about 63% of millennials do not own a credit card. while they might be credit card debt free they are also credit free which is hurting their credit scores. sharon epperson joins us now. what is the deal? >> a lot of millennials are not getting credit cards. whether it is because you have to be 21 years old to get a credit card or have proof of income unless you are co-signing with a parent and also need to have some perhaps reason to want to get that credit card. many are living in their parents' homes and under parents' finances. they are in school and racking up debt they don't want to add more debt to that. it is fascinating other studies
show the same thing that millennials about a third of them have no credit cards where the average person who is 35 or older has 5 cards. >> do you think millennials have seen their parents go through all kinds of horrible things in the economy or they are risk overt or just can't get the credit cards? >> i think a little bit of both. the credit card act played a big role. we have seen a lot of data points. sally mae's data shows every year a decrease in the number of college students, for example, getting credit cards. that was when people used to historically get their first credit card. i think some of it is what they have seen socially, the great recession, foreclosure crisis and deleveraging that they are credit card averse because they want lower levels of debt.
with the student loan crisis because they don't want two forms of debt. >> are they averse to plastic. they may be using the debit card not aware that fraud protection is better on credit card. they using cash. using debit cards and prepaid cards and not so many consumer protections for that, a catch-22. >> and other payment forms, they'll use paypal to be able to make purchases but there's a lot of risk in this. not only credit scores lower in general for a lot of millennials and also other problems they might face because other studies have shown because they don't have, say, traditional mainstream credit, they take out payday loans for car title loans and higher risk loans so people might say this is great news they don't have credit cards but not so fast. >> realize all of the things dependent on that credit score.
why do i have to worry about my score or i'm using my parent's -- >> so many other things. >> employers, that's one of the big things to realize is that employers check that. insurance rates. a lot of things to look at. >> moving to this country, i wanted to buy a house. they said you don't have a u.s. credit history. how do i get a u.s. credit history, get two american credit cards and spend, spend, spend. that's crazy. racking up debt for a house. >> paying it off. >> right. >> of course. >> the irony is hystericallis hu have to get into debt to establish credit but companies realize that we have tens of million of unbanked and under-banked consumers and they're tracking other forms of payment like your rent, for example. even if you don't have a mortgage, they'll track your rent payment and those kinds of payment histories can help you, as well. >> do we see the trend changing
any time soon and the attitudes of credit cards? >> i don't think so. >> it affects the attitudes of money in general. they're more risk averse because they have seen what they wept through and so they're taking baseball steps in many areas and unfortunately this is one of the areas that could long term potentially hold them back. we don't want them to rack up credit card debt but be credit worthy and good investors and savers down the road. >> are they saving more? >> no. they're not saving money. >> unfortunately. you would hope that they would be but no. >> all right. okay. on that note -- sharon, lynette, thank you so much. >> sure. after the break, more on the ray rice news of the past hour. he is terminated by the ravens. also breaking news out of the ncaa. very odd timing by them. both the stories and insightful analysis after the break. and custom communications solutions, your business is more reliable, secure, and agile.
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tap into the full power of your fidelity greenline. call or come in today for a free one-on-one review. with centurylink visionary cloud a brinfrastructure, and custom communications solutions, your business is more reliable, secure, and agile. welcome back. we have more breaking news on the ray rice story. the nfl also indefinitely suspended ray rice. joining us is mike tierney. mike, thank you very much for joining us. so the ravens cutting rice. the nfl suspending him indefinitely. and apparently, the nfl saying they had not either seen this disturbing new video that was first released by tmz. what's your take on this increasingly bizarre situation?
>> first of all, it's amazing they had not seen this tape with the investigative tools they have. given the timing with commissioner saying he erred only giving rice a two-week suspension and the guidelines now much more serious punishment for such infractions, the video coming out very bad timing, as far as rice and the ravens are concerned. so he's cut. it's interesting to see if he's picked up at some point. he's a very good runs degree back and may have played the last game in the nfl. >> there have been more calls about what should happen to nfl commissioner roger goodell this morning. a lot of discussion of whether or not he or the nfl had seen this latest video and, and if so, what should happen to them if they decided after seeing it for a two-game suspension. the nfl apparently saying they did not see this video. in your mind, mike, does roger goodell need to step down?
>> perhaps he does. it is not going to happen. he's the ceo of the most successful sports entity in the world right now. so, the league is so successful that i think he'll be able to survive this. i think it looks bad for his investigators that they were unaware of this tape. assuming that's the case. and it's quite possible that he knew or they knew this tape existed recently when he announced that he made a mistake on the lightness of the punishment. >> yeah. i mean, listen. the video that came out overnight so disturbing, but yet, we already knew, mike, this woman was unconscious in an elevator because of what ray rice did to her and dragged her out of elevator. right? i understand the video adds a new layer of emotion to the story here. but i find it hard to commend the baltimore ravens. i mean, coming out of an
elevator unconscious from a punch. we knew that already. >> yes. i mean, you know, there's a tendency in sports the kind of look the other way and i'm not equating it but nascar driver tony stewart was in an accident a few weeks ago where his car struck and killed another driver on the track. now, he is not charged but right after that, he and his team said that he would still plan to race in the next day's race really not aware of what impact that that accident had. after a few hours, they realized we need to shut it down for a few weeks. sometimes in the world of sports, there's a lack of a dose of reality that exists and i think that may have existed with the ravens in this situation. >> and what do you think should be the nfl's next move here? i mean, it just seems, mike, when we look at a player like
josh gordon being suspended for a year for drug violations, i'm not minimizing that at all and the nfl saying the second time you have domestic abuse, you are out of the league. does the nfl need to take a hard look in the mirror? >> i think, you know, the recent new guidelines on suspensions for domestic violence now we'll see what impact it has. you know, back to your earlier question, a san francisco 49ers player accused of domestic violence and he wound up playing in the game yesterday. so i think they need to get the message out to teams from the league office that says, even if one of your players has an arrest pending, even before he goes through the court system, think about this for a while. >> we have to leave it there.
thank you for rolling with it. brought you on to talk about the nba story. thank you for your flexibility. >> thank you very much, you the viewer and listener, for joining us today. "closing bell" is next. hope to see you same time tomorrow. welcome to "the closing bell." reunited. >> welcome back. to both of us, i guess. >> yeah. >> we are watching a market struggling today to be in the green, to start this week off even though the s&p started -- finished last week in all-time high territory and keeping an eye on that. a number of stories to watch today. corporate tax inversions front and center in washington today. treasury secretary jack